Indeed. It is one of a series of Catechetical hymns which Luther wrote; there are also hymns based on the Ten Commandments and the Our Father.
The conditions of 16th century Germany were very similar to those of 19th century France; Luther took the same approach that would late be taken by the Cure of Ars in going “back to the basics” and teaching the fundamentals of the faith.
Luther thought that the peasant folk might learn these essentials all the better if they could sing them, hence the catechetical hymns.
**the peasant folk might learn these essentials all the better if they could sing them**
So true. In working with pre-school children, if I could teach a concept through song — it stuck!